Bank Bonus Tax Calculator
Estimate how much of a checking or savings account bonus you may keep after federal, state, and optional Net Investment Income Tax. This is an educational estimate, not tax advice.
Calculator inputs
Estimated result
You keep $292.00 of the $400.00 bonus after tax.
Change any input above and this updates instantly.
See the full breakdown
Schedule B check
This estimate puts your taxable interest at $650.00. Ordinary dividends are tested separately against their own $1,500 threshold.
Schedule B may not be required from the interest threshold alone.
What this calculator does
It treats a deposit-account bonus like taxable interest, then estimates the amount left after the tax rates you enter. It does not choose your actual bracket for you.
Why Schedule B appears
Schedule B is commonly triggered when taxable interest exceeds $1,500 or ordinary dividends exceed $1,500, with each category tested separately. Tax software usually handles the form after you enter each payer and amount.
How to use it with ROI
Use this page to estimate tax cost, then use the Bank Bonus ROI Calculator to compare the after-tax bonus against a high-yield savings account, or the Job Offer Comparison Calculator to weigh a new job's take-home pay by state.
Important notes
Banks commonly report checking and savings bonuses on Form 1099-INT. Some bonuses, notably referral bonuses, arrive on Form 1099-MISC instead, but they are taxed as ordinary income either way. IRS Topic 403 says taxable interest must be reported even if no Form 1099-INT arrives. Publication 550 also discusses gifts and services from deposit accounts as interest in some cases.
This calculator is only an estimate. Your actual return may depend on deductions, credits, filing status, state rules, withholding, NIIT eligibility, and other income.
What's changed on this page
- August 6, 2026 Corrected the Schedule B test to look at taxable interest on its own, since interest and ordinary dividends are each measured against their own $1,500 threshold rather than a combined total. Withholding larger than the estimated tax now reads as a potential refund instead of a negative amount due, and the NIIT option states the $200,000 single / $250,000 joint MAGI thresholds.
- June 2, 2026 Published.